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The National Debt Management Center (NDMC) announced, in a statement today the completion of arranging local Sukuk issuances under the Saudi Arabian Government SAR-denominated Sukuk Program for the debt principal repayments as per the financing needs for the year 2022, with a funding amount of approximately SAR 43 billion.
NDMC stated that it may, in accordance with the annual borrowing plan, continue to consider additional funding activities subject to market conditions and through available funding channels locally or internationally through debt markets and government alternative financing.
This is to ensure Kingdom's continuous presence in debt markets and manage the debt repayments for the coming years, in addition to, facilitating the financing of capital expenditures and infrastructure projects which will contribute to promote economic growth while taking into account market movements and the debt portfolio risk management.
As of today, the Kingdom's issuances for the year 2022 were in the local market as it is relatively stable in comparison to international markets, NDMC stated.
It added that these issuances included early repurchase of some of the Kingdom's debt instruments and pre-funding transactions for maturities due in 2023, 2024 and 2026.
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